Effective from 2021-05-01 - Apr 30 2021 To view other versions open the versions tab on the right
2.1
These instructions aim to clarify the obligations of banks and financial institutions according to the provisions of the Law and Regulation, as well as to facilitate banking transactions related to bankruptcy procedures.
2.2
These instructions do not affect the provisions of the Law and Regulation, as well as other related regulations and instructions, including but not limited to the following:
Rules and Guide for Managing Potentially Troubled Loans, communicated by Central Bank Circular No. (41033343) dated 1441/05/11 AH.
Rules for Bank Accounts, communicated by Central Bank Circular No. (65681/67) dated 1440/11/01 AH.
Regulations for Bankruptcy Procedures in Commercial Courts, issued by Minister of Justice Decision No. (6421) dated 1441/03/21 AH.
Central Bank Circular No. (42025830) dated 1442/04/21 AH, concerning the affirmation not to refuse to confiscate a bank guarantee letter due to the commencement of bankruptcy proceedings and the suspension of claims against the client who issued the guarantee letter.
Central Bank Circular No. (42016471) dated 1442/03/16 AH, concerning the importance of adhering to regulations related to the business environment and credit transactions.
